Sugar price to fall as govt reduces customs duty

Published On: May 30, 2023 02:30 PM NPT By: Republica  | @RepublicaNepal


Sugar price to fall as govt reduces customs duty

KATHMANDU, May 30: The government has reduced the customs duty on sugar and jaggery.

In the budget for the upcoming fiscal year 2023/24 released by the government on Monday, the customs duty on sugar will be reduced from 40 percent to 30 percent starting new FY 2023/24.

The government's decision to reduce taxes paved the way for traders to import Indian sugar into the Nepali market at a cheaper price. The government has reduced the customs duty on goods including sugar, jaggery and sugar cubes by 10 percent.

 

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